By Staff writer
Yacht manufacturer sees 'considerable market resilience' amid challenging global economic landscape
Leading yacht manufacturer Gulf Craft has said it sold AED80 million ($22 million) worth of luxury yachts and leisure boats at this year's Dubai International Boat Show, signifying considerable market resilience amid a challenging global economic landscape.
Gulf Craft's announcement follows the successful unveiling of four yachts - two of which were superyachts - across its expanding portfolio at the show.
"What we have witnessed at this year's Dubai International Boat Show is the genuine buoyancy of the leisure marine market, one which we believe has been heavily supported by our global presence and growing worldwide interest in our take on boating and on-water living," said Mohammed Hussein Al Shaali, chairman of Gulf Craft.
"This year, we saw an increased number of international visitors, particularly from Europe, Asia, Australia, and the US - all specifically coming to see and experience our product range."
CEO Erwin Bamps said delivering value for money is crucial during difficult economic times.
"Rather than taking cost-cutting measures, our focus is on exceeding client expectations and giving customers a greater return on investment in terms of both product and service," Bamps said. "By relentlessly investing in research and development and working closely with our suppliers to enhance the seagoing experience, we have made this possible."
Gulf Craft is in the process of adding two more shipyards in the UAE, according to Bamps. Currently, the company has four shipyards across the country.